That works out to more than 1,000 millionaires a day under the Obama
administration. (They defined millionaires as people with total net
worth of $1 million or more, excluding primary residence).
end quote from:
Has Obama been good for millionaires?
I was actually surprised by this at first until I remembered studying about this effect during the Great Depression. Actually, bad times tend to create more millionaires than good times. I think this is a part of the saying, " When the times get Bad the good get going!" I guess what this tends to mean is that when regular people tend to give up hope exceptional people who are also risk takers and optimistic no matter what tend to get going and create something for us all. I think this is what has always been amazing about America, that in really bad times the most exceptional of us struggle to the top and become millionaires. Though this happens in good times too, I think you will find that during the 1930s, the early 1980s and since 2007 many of the biggest companies and success stories that will live on for the next 30 to 50 years are and have been born during times like these. Though it is an amazing dynamic, the worst of times bring the very best out in some or all of us as Americans.
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